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REGISTERED NUMBER: 02009097 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2023

for

VTT Limited

VTT Limited (Registered number: 02009097)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VTT Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: P A Fry
J R Fry





REGISTERED OFFICE: Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW





BUSINESS ADDRESS: Elmdon
East Pennard
Shepton Mallet
Somerset
BA4 6RW





REGISTERED NUMBER: 02009097 (England and Wales)





ACCOUNTANTS: Silbury Accountants Limited
Chartered Accountants
Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW

VTT Limited (Registered number: 02009097)

Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 462 546

CURRENT ASSETS
Inventories 311,028 311,028
Cash at bank 3,969 4,381
314,997 315,409
CREDITORS
Amounts falling due within one year 5 19,136 16,031
NET CURRENT ASSETS 295,861 299,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,323

299,924

CREDITORS
Amounts falling due after more than one
year

6

322,217

320,939
NET LIABILITIES (25,894 ) (21,015 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (25,896 ) (21,017 )
SHAREHOLDERS' FUNDS (25,894 ) (21,015 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VTT Limited (Registered number: 02009097)

Statement of Financial Position - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





J R Fry - Director


VTT Limited (Registered number: 02009097)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

VTT Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
The company's principal activity is the development of a property and garage site. The property costs and other direct costs are included in stock and work in progress at the lower of cost and net realisable value. Provision is made for any foreseeable losses where appropriate.

Financial costs are not included in stock and work in progress.

All stock valuations exclude overheads.

The closing stock balance was revalued to the director's estimate of the net realisable value for the site if it was sold without any further development.

The residential property included in stock and work in progress is still considered by the directors to be under development and could not be rented out to an unconnected third party. Planning permission is expected to be submitted to the local council in 2024 with the property development expected to be completed during 2025/26 and then the property will be sold on the open market. Due to this, the property is still classified as stock.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

VTT Limited (Registered number: 02009097)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 17,492
DEPRECIATION
At 1 June 2022 16,946
Charge for year 84
At 31 May 2023 17,030
NET BOOK VALUE
At 31 May 2023 462
At 31 May 2022 546

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Taxation and social security 1,005 998
Other creditors 18,131 15,033
19,136 16,031

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 322,217 320,939

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
2 ordinary £1 2 2

8. GOING CONCERN

The accounts have been prepared on the going concern basis due to the continued support of the directors.